CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
MajorsJun 30, 2020
Swarovski Latest to Announce Job Cuts, Slashing 600 Positions
The crystal company is undergoing a restructuring as the COVID-19 pandemic sinks sales in the United States and Asia.
Swarovski introduced lab-grown diamonds in 16 colors at Paris Haute Couture Fashion Week in January. The company is cutting 600 jobs as part of its restructuring plan. (©Swarovski)
Wattens, Austria—Swarovski plans to cut 600 jobs, or about 2 percent of its workforce, as part of a restructuring plan.
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
RELATED CONTENT: Macy’s to Lay Off 3,900 Employees Amid Restructuring
Buchbauer, the great-great-grandson of company founder Daniel Swarovski, was recently appointed to the CEO position amid an executive shake-up at the company.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
More on Majors
The Latest
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
